Jd Com Founder S Fortune Plummets After Arrest On Rape Allegations
On September 18th, it was revealed that Liu was arrested on allegations of rape. He was not charged, but he continues to be under investigations by the authorities for the alleged rape. In 1998, Richard Liu started JD.com in Beijing with $2,000, originally calling it Jingdong. He was a distributor of magneto-optical products that powered minidisc players, the precursor to iPods. By 2003, he had opened 12 stores. The SARS outbreak in 2003 led to staff and clients of Jingdong staying home to avoid infection and forced Liu to rethink his business model....